Katie Price ‘blew £1m in two years on clothes, shoes and beauty treatments’ and would get ‘100 parcels delivered a week’ before bankruptcy battle
The 40-year-old was once worth £45million, but narrowly avoided bankruptcy for the second time last week
KATIE Price blew around £1million on clothes, shoes and beauty treatments as her debts spiralled out of control.
The former glamour model was worth £45million at the height of her career, but has now admitted to friends that she frittered away a substantial chunk of her cash on online shopping, beauty treatments and exotic holidays.
A source said: “For years, she didn’t have a care how much she spent and would often have dozens of parcels arriving each day at the house without the knowledge of her then-husband Kieran Hayler.
"Katie reckons she’s spent over £1million in the last two years on pretty much nothing. She’s spent a fortune on beauty treatments, holidays, partying and shopping alone.
"It's an amount normal people wouldn’t see in a lifetime and she spent it trying to find happiness. She admitted that shopping is her way of trying to patch up her pain.”
The 40-year-old just staved off bankruptcy after a court hearing last week was adjourned for over a month until December 4.
Details of the proposed agreement were anticipated to be heard at the High Court in London, but HMRC told a judge that Katie’s team only submitted their debt proposal, called an Individual Voluntary Arrangement, at the last minute.
Katie has personal and business debts that run into the hundreds of thousands and there appears to be no concrete plan as to how she’s going to pay it off.
The source adds: "On any given week up to 100 parcels would arrive at the house.
"Each parcel would be sent to a room that only she had a key for. She used to put her day on hold until the postman arrived so that Kieran didn't see how much stuff she bought.
“When she was sad, she pulled out her laptop and ordered thousands of pounds worth of clothes a week.
“Katie admits it was exciting and there was a buzz. People think celebrities are constantly busy, but there were times when she was married, or looking after the kids when they were only babies, when it would be just Katie and the nanny, and she’d be stuck indoors with nothing to do.
"She would say she was playing candy crush on her phone at 3am, when she was awake buying all sorts of stuff she didn’t need online."
Katie is trying to strike a new deal with creditors where she can pay back her debts at £1,000 a week - meaning she will not be in the clear for another 12 years.
However it's not all bad news, as she was recently assured she could stay at her £2million home for Christmas.
She has been trying to offload the mansion in a bid for cash, and was recently told it would need a £150,000 makeover to be sellable.
The star has let the pad fall into a state of disrepair amid her financial and personal woes, having checked into rehab for PTSD and drug abuse last month.
Katie's representatives didn't reply to a request for comment when approached by The Sun Online.
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